Pre-Budget Report
A Pre-Budget Report (PBR) is delivered by the Chancellor to the House of Commons in the autumn. It provides a progress report on what has been achieved so far, gives an update of the state of the economy and public finances, and sets out the direction of Government policy in the run up to the spring Budget.
Chancellor Gordon Brown introduced the idea of a Pre-Budget Report (PBR) in 1997. Launching the first PBR on 26 November 1997, the Chancellor said that its aim was to "help build the foundations of shared understanding and sense of national economic purpose between government, business, and individuals."
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